Exercise is (usually) a good idea. It can help to increase fitness levels, keep weight under control and also improve your mood. But can you make money just from getting on your bike or hitting the running track? A couple of years ago the answer would have been a definitive “No.” However, today we are in a world of mobile apps that have broadened out the way that we live our lives, including how we motivate ourselves to exercise. And, as a result, it is actually possible to make money from exercising if you have one of these apps.
The Fitcoin app works with any fitness tracker that will integrate with Apple Health app on your iPhone. It enables you to generate rewards from the activity that you do during the day. So, the more calories you burn and the more exercise you do, the more likely you are to have something to show for it at the end of the day. Although Fitcoin doesn’t pay out cash to those who earn their share of Fitcoins, you can convert these into vouchers that can be used to make purchases with retailers such as Amazon.
If you’re a keen walker then you could make money every time you step out with Sweatcoin. The app will reward users with one Sweatcoin for roughly every 1,000 outdoor steps that are taken. Sweatcoins can then be redeemed in the app’s own store against fitness kit and gadgets, services and experiences. The app has had great reviews from users who have found it useful, both in terms of motivation to get fitter and satisfaction of rewards. The best way to work with Sweatcoin is to generate the rewards from the steps that you would already be taking in a day.
You can use the Bounts app with your fitness tracker or device or just use the pedometer in your mobile phone. The app is designed to encourage fitness by rewarding certain activities with points. Those points can then be used to join various challenges that come in a variety of different shapes and forms, including Kudos, Chance of a Reward & Guaranteed Reward Challenges, and win prizes. You can also simply use the points that you accumulate to redeem offers and discounts that big name retailers have agreed with Bounts.
The Bitwalking app is one of the few that enables users to generate “real” money, as opposed to rewards that can be redeemed for vouchers. It is described by the app makers as “a technology that recognises our human value. A new global currency generated by each of us, for all of us.” That currency is ‘Walking Dollars’ (W$) and the theory goes that you’re using your steps to mine this cryptocurrency. Opportunities to enjoy the W$ that you earn include spending them in the app’s store, trading W$ with others and eventually you’ll also be able to withdraw the W$ that you earn as cash.
If you’re keen to raise cash for a good cause and you want to use activity to do it then Charity Miles is an app worth investigating. It enables anyone to walk, run or cycle to accumulate Charity Miles that can then be donated to more than 30 very well known charities. The app uses the GPS on your smartphone to track the activity that you do and then donates on the basis of how far you get. It may sound a bit fanciful but the app has some pretty big name sponsors, including Johnson & Johnson and Humana. So, if your motivation to exercise is of the more philanthropic kind you might feel you can go further with Charity Miles.
This app is all about rewarding weight loss and giving you the opportunity to earn money by betting against yourself in the process. Healthy Wage is a free app but does require a verified weigh in before you can start to use it properly. It works on the basis of giving users the opportunity to set time sensitive goals and then to make bets based on whether you think that goal will be achieved. So you bet money to win for weight lost within a specific time period. If you’re successful in your bets then the rewards can be cash, which is paid out through PayPal, or you can choose to opt for Amazon credit instead. The app is incredibly motivational as you’re using your own money to place the bets and enjoying rewards that are both physical and financial.
Alex Hartley is a keen advocate of improving personal finance skills. She's worked at Solution Loans since 2014 and written hundreds of articles about how people can manage their money better. Her interest in personal finance goes way back to...Read more about Alex Hartley